Risk Par(i)ty

One of the truisms of the current market is that volatility – both historical and implied –  is historically low, but just how extreme is it? How does this manifest itself in the bond, as opposed to the stock, market? What does it tell us about the risks we may be running by maintaining naked exposures?

Please follow the link to find a brief, but instructive overview of this most burning of  issues:-

17-10-18 Vol